#Budget2017 - a play in three parts

So it is that (new) time of year where accountants and tax advisors make predictions for the Chancellor’s budget that is coming up next week. What will it hold for the #Midlands #technology sector?

I think there will be three elements.

From a big picture policy perspective I’d expect it to be ‘steady as she goes’. All the headlines will be in the more mainstream politically charged elements - the ‘B’ word, housing, social care and the NHS. It’s unlikely we’ll see any big policy shifts around innovation incentives and any tax changes on the corporate / international front will be focused on multinationals. There may be some changes around limits but I wouldn’t expect too much to change.

An area that will be watched closely across the UK will be to see what support is given to the continuation of the industrial strategy / innovation agenda that is increasingly making up the day-to-day vocabulary of government. It would be surprising if we didn’t see more money and resources go into the main areas of the Industrial Strategy and from a local perspective that can only be good news. Automotive, manufacturing and advanced materials are all likely in with a shot for money or enhanced structures, and it would be a surprise if items such as 5G, robotics, autonomous vehicles and battery technologies were not supported in some form.

These are sectors that our historic strengths in the #Midlands play well to and we wait to see whether they are the foundation on which the big piece of news is built - what is in Mr Hammond’s red box for the #Midlands when it comes to the #devo2 deal?

There will of course be plenty of elements to any new deal but the #tech sector will be looking out to see how much of the Mayor’s technology and innovation agenda can be supported by any additional funding and support. Since his election in May the Mayor has been a vocal champion of the sector and has supported a range of programmes to build on our existing communities and successes. While much of our future success will (rightly) be driven and determined by the private sector, we need the support of the public sector to enable us to compete with the likes of Berlin, NYC and Austin, while creating enough whitespace in which we can build new communities and centres of excellence.

All in all it’s likely to be a day for the detail – for an analysis of the #AutumnBudget2017 and what it means for you and your business, register for our webinar here: https://ow.ly/O3wF30gpfaq